We found that on average over the period from 1989 to 2007, 21
percent of American households at a given point of time received a
wealth transfer and these accounted for 23 percent of their net
worth. Over the lifetime, about 30 percent of households could
expect to receive a wealth transfer and these would account for
close to 40 percent of their net worth near time of death. However,
there is little evidence of an inheritance "boom." In fact, from
1989 to 2007, the share of households reporting a wealth transfer
fell by 2.5 percentage points. The average value of inheritances
received among all households did increase but at a slow pace, by
10 percent, and wealth transfers as a proportion of current net
worth fell sharply over this period from 29 to 19 percent or by 10
percentage points. We also found, somewhat surprisingly, that
inheritances and other wealth transfers tend to be equalizing in
terms of the distribution of household wealth. Indeed, the addition
of wealth transfers to other sources of household wealth has had a
sizeable effect on reducing the inequality of wealth.
General
Imprint: |
Bibliogov
|
Country of origin: |
United States |
Release date: |
September 2012 |
First published: |
September 2012 |
Authors: |
Edward N. Wolff
|
Dimensions: |
246 x 189 x 2mm (L x W x T) |
Format: |
Paperback - Trade
|
Pages: |
44 |
ISBN-13: |
978-1-249-41803-0 |
Categories: |
Books >
Social sciences >
Politics & government >
General
|
LSN: |
1-249-41803-8 |
Barcode: |
9781249418030 |
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